The seminar on redefining finance in Vietnam with AI, organised by the Association of Chartered Certified Accountants (ACCA) in collaboration with British Chamber of Commerce in Vietnam (BritCham) and British consulate-general in Ho Chi Minh City, brought together global thinking and local insights, exploring how finance in Vietnam can be digital, inclusive, and connected to the wider world.
Experts gather in the "Redifining finance in Vietnam with AI: from global trends to local innovation and the IFC vision" held in Ho Chi Minh City
Ren Varma, head of ACCA for Mainland Southeast Asia, highlighted how AI is rapidly reshaping finance across the world, from algorithmic risk modelling to intelligent reporting and real-time decision-making.
“As Vietnam progresses towards its vision of becoming an international financial centre, the responsible and strategic integration of AI will be essential. This means not just adopting new technology, but building an ecosystem of capable, ethical, and forward-thinking professionals,” said Varma.
ACCA, with its globally recognised qualification, commitment to ethics, and continued investment in future-ready skills, believes that professional accountants will remain indispensable in the AI-shaped world, as they ask the right questions, challenge assumptions, uphold trust, and ensure that innovation serves the public interest.
“AI brings immense opportunity, but only when paired with sound judgment, transparency, and governance. The responsible and strategic integration of AI is crucial for Vietnam's finance industry to thrive,” Varma added.
Will Lawrenson, British deputy consul general and head of Trade and Investment for Ho Chi Minh City, said that the UK and Vietnam already boast many activities on collaboration in AI and finance.
“The UK sees Vietnam as a key partner in Southeast Asia for AI and digital transformation, as evidenced by their growing cooperation in various sectors, including healthcare, fintech, and cybersecurity,” said Lawrenson.
Especially, during the UK Southeast Asia Tech Week in March, more than 500 delegates and 12 top AI firms from the UK visited Ho Chi Minh City to explore partnerships in areas such as transparency, facial recognition, and financial digitalisation.
“The UK government has also partnered with Boston Consulting Group on a trade finance initiative, supported by Vietnamese and British banks and the State Bank of Vietnam, to address the $90 billion trade finance gap in Vietnam through the development of a trade finance registry, a digital platform powered by AI,” he said.
Luong Ngoc Binh, senior consultant in AI and Banking Data at FPT IS, FPT Corporation, emphasised that AI is already shaping the present and is being widely applied in the banking and finance sectors.
“AI applications such as risk management, anti-money laundering, product/service personalisation, and decision support are enabling financial institutions to optimise operations, enhance customer experiences, and improve business decision-making,” Binh noted.
Meanwhile, during the panel discussion at the seminar, other experts including Ross Macallister, managing partner and head of Consulting at KPMG in Vietnam, Tyler McElhaney, country head of Apex Group, and Kenneth Atkinson, board member of BritCham Vietnam, highlighted both the challenges and opportunities in building an international financial centre in Vietnam.
The experts stressed the need for a comprehensive strategy that includes policy frameworks, regulatory clarity, and investments in infrastructure, technology, and human capital for Vietnam to successfully establish a competitive financial hub.
While digital technologies, AI, and other advanced innovations are seen as essential enablers, risks such as cybersecurity, data protection, and risk governance must also be addressed. Developing a skilled workforce, particularly in technology and data analytics, was also identified as a critical priority.
Mike Suffield, director of Policy and Insights at ACCA Global
AI is seen as a significant opportunity for the development of businesses and the finance/accounting profession. It will lead to changes in roles, eliminating some routine tasks but creating new strategic and analytical roles. AI is a tool that needs to work in conjunction with people, leveraging their skills and expertise. It is essential that AI is used in an ethical and responsible manner, with a focus on innovation and proper understanding of the technology.
While AI may eliminate some routine jobs, it is expected to open up new and exciting opportunities in the accounting profession. The challenge is to use AI effectively, which requires understanding the technology and building relevant skills.
Regarding the potential and risks of using AI in business, AI presents great opportunities to drive innovation and improve efficiency in businesses.
The quality and reliability of the data used by AI systems is crucial, as AI relies on the data it is provided. However, proper management and understanding of AI systems are necessary to mitigate risks and maximise the benefits.
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